ALLETE Inc. (NYSE: ALE) has reported E.P.S. of $0.88 for its first fiscal quarter (ending March 31) versus $1.02 for the same period a year ago — a decline of -14%. Relative to the consensus estimate of $1.24, this was a shortfall of $-0.36. E.P.S. were $4.17 for the latest four quarters through March 31 versus $3.18 for the same period a year ago — an increase of 31%.
Recent Price Action
On 5/9/24, ALLETE Inc. (NYSE: ALE) stock rose slightly by 0.3%, closing at $62.93. Moreover, trading volume in this advance was exceptionally high at 304% of normal. The stock has performed in line with the market over the last nine months and has risen 4.3% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, ALE is expected to continue to be a modest Value Builder.
ALLETE has a current Value Trend Rating of C (High Neutral). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. ALLETE has a neutral Power Rating of 53 and a slightly positive Appreciation Score of 66, resulting in the High Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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